A nice dip to start the year of ethereum.
I don't expect the subwave 1' to be a big wave 5, because the timeframe is to short.
(If it really is wave 5, than a dip to the area of the preceding wave 4 around 350 USD would be imminent.)
But with the indicated count, we are now in the area of the preceding minor wave 4 and the dip could terminate here.
Furthermore, the price hit the 50% fib level and the red trendline.
If my count is right, wave 3 of 3 should follow now with massive upside potential.
Therefore the price will have to leave the yellow channel on a second attempt after the first one in june 2017 failed.
I don't expect the subwave 1' to be a big wave 5, because the timeframe is to short.
(If it really is wave 5, than a dip to the area of the preceding wave 4 around 350 USD would be imminent.)
But with the indicated count, we are now in the area of the preceding minor wave 4 and the dip could terminate here.
Furthermore, the price hit the 50% fib level and the red trendline.
If my count is right, wave 3 of 3 should follow now with massive upside potential.
Therefore the price will have to leave the yellow channel on a second attempt after the first one in june 2017 failed.